AVEO Pharmaceuticals (AVEO - Free Report) closed the most recent trading day at $1, moving -1.96% from the previous trading session. This change lagged the S&P 500's daily loss of 0.06%. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, lost 0.1%.
Heading into today, shares of the cancer drug company had gained 71.14% over the past month, outpacing the Medical sector's loss of 2.31% and the S&P 500's gain of 4.3% in that time.
Wall Street will be looking for positivity from AVEO as it approaches its next earnings report date. The company is expected to report EPS of -$0.05, up 37.5% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $0.74 million, down 28.16% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.16 per share and revenue of $10.62 million. These totals would mark changes of +15.79% and +96.38%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for AVEO. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 31.52% higher within the past month. AVEO is currently a Zacks Rank #2 (Buy).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.